This paper studies the interaction between two autonomous policymakers, the central bank and the government, in managing public debt as the result of a two-stage game. In the first stage the institutional regime is established. This determines the equilibrium solution to be applied in the second...

This paper focuses on the “contingent†view of transparency. By introducing endogenous fiscal policy and labour market distortions, it studies the effects the uncertainty in central bank’s (CB) preferences on the behaviour of wage and fiscal authorities and thus on output and...

This paper examines the information provided to the private sector by central banks. By using the principal component analysis, we investigated the variance of the procedural rules followed by nine major central banks about information treatments. We investigate problems related to the...

In the inheritance tax debates of the 1920s the proposals formulated by theItalian philosopher Eugenio Rignano occupied a prominent position. Since then, his contribution has been largely, although not completely, forgotten. This paper reviews the Rignano’s ideas by focusing upon its...

This article extends the standard New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...

L'idea di questo lavoro Š quella di tracciare un profilo del cosiddetto lavoratore povero, ovvero delle persone che pur essendo occupate, percepiscono un basso reddito, normalmente inadeguato rispetto ai bisogni di mantenimento di sŠ e dei familiari a carico. Si utilizza un semplice modello di...